UPDATE 1-EDF says won't pay "any price" for British Energy

Tue Sep 16, 2008 6:31am EDT

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LONDON, Sept 16 (Reuters) - EDF (EDF.PA) remains eager to play a role in nuclear power in Britain but will not pay "any price" to buy British Energy Group Plc BGY.L, EDF's chief executive said on Tuesday.

Pierre Gadonneix also told reporters on the sidelines of a conference in London that he was unaware if a bid for British Energy would be discussed at an EDF board meeting this week.

"We are not going to do anything at any price. We as a company are clearly committed to playing a role in nuclear development in Great Britain," he said.

A takeover of British Energy by EDF is the British government's preferred option for the nuclear generator, rather than a merger with British utility Centrica Plc (CNA.L).

The British government, which owns about 35 percent of British Energy, gave the green light in January to new nuclear power stations to help cut carbon emissions and reduce reliance on energy imports.

This sparked takeover interest in British Energy, which lacks the expertise to build new plants but whose land holdings alongside existing nuclear power stations are viewed as the best sites for new developments. (Reporting by Tom Bergin and Phil Waller, Writing by Dan Lalor; Editing by Rory Channing)

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